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Debt
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Debt
Debt
On August 9, 2013, as part of a round of debt financing led by Actua, Bolt entered into certain loan agreements with one of its minority shareholders that exercised preemptive rights, Neurone II Investments G.P., Ltd. (“Neurone”). Those agreements provided for a term loan of $0.5 million, subject to an interest rate of 8.0% and maturity date of August 9, 2015. Since the loan matured on August 9, 2015, it has become payable on demand and interest continues to accrue at 8% interest. The principal amount on the loan, which is convertible into shares of preferred stock in Bolt, has a fair value of $0.5 million as of both June 30, 2016 and December 31, 2015. As of both June 30, 2016 and December 31, 2015, $0.5 million is outstanding under the term loan and is included in the line item “Short-term debt” in Actua’s Consolidated Financial Statements.
On January 1, 2015, as part of a round of debt financing led by Actua, Bolt entered into certain additional loan agreements with Neurone that provide for a term loan of $0.8 million, subject to an interest rate of 8.0% and a maturity date of May 1, 2016 and is now payable on demand. The loan, which is convertible into shares of Bolt’s preferred stock, has a fair value of $0.8 million as of June 30, 2016.  As of June 30, 2016, $0.8 million is outstanding under the term loan and is included in the line item “Short-term debt” in Actua’s Consolidated Balance Sheets.
On February 26, 2016, GovDelivery entered into a working capital revolving credit facility with Venture Bank, that matures on February 26, 2017 and provides for an advance amount of $5.0 million, subject to an interest rate of 5.5% and certain financial covenants. The facility is secured by the assets of GovDelivery.  During the six months ended June 30, 2016, GovDelivery borrowed and repaid $5.0 million under the credit facility. GovDelivery was compliant with the financial covenants of the credit facility for the six months ended June 30, 2016. Subsequent to the six-month period ended June 30, 2016, GovDelivery borrowed an additional $2.0 million through the above mentioned line of credit, all of which is currently outstanding.